But with the major market indices bleeding red ink, it wasn't a pretty outing for every debutante. Shares of AtRoad
ARDI
and Head
HED, +0.43%
both fell 20 percent. See snapshot.

With the third quarter coming to a close, the IPO market bustled with activity Friday. The lineup featured 10 premieres including two overseas deals and eight IPOs in the biotech, energy and technology sectors. Listen to Steve's IPO report.

Hot sector

Proton Energy Systems is the latest in the hot energy IPO sector.

Earlier this week, Southern Energy
SOE
popped about 30 percent on its first day -- not bad considering the hefty $1.3 billion size of the Southern Co.
SO, -0.49%
spinoff.

Other high flying power IPOs of late include flywheel maker Active Power
ACPW
It rang up the second highest opening day gain of the third quarter overall, with a 210 percent first day spike on Aug. 7, according to CommScan Analytics. It's up about 283 percent over its IPO price as the quarter comes to a close this week.

Capstone Turbine
CPST, +3.23%
and H Power
HPOW
have also posted solid gains over their offering prices.

And more are on their way.

David Menlow of IPOfinancial.com has his own picks that will soon come to market, Hydrogenics
HYGS, +3.09%
and Hydrogen Burner Technology
HBTI

Evergreen Solar
ESLR
just filed for a $45 million IPO with Banc of America Securities.

Proton Energy

Proton Energy Systems
PRTN
opened at $30.50, nearly double its $17 price. The stock rose to $36, before settling at $28.67 on volume of 10.3 million shares.

The Rocky Hill, Conn.-based fuel cell specialist priced above its $14 to $16 range in a sign of strength.

The company makes proton exchange products for hydrogen generators.

In a sign of strength, the company increased its price from $10 to $12 ahead of its debut.

It sold 7 million shares, raising $119 million with underwriters Morgan Stanley, CS First Boston and Salomon Smith Barney.

Ciphergen Biosystems

Ciphergen Biosystems
CIP.H, +0.00%
opened at $32.06, double its $16 price. The stock hit a high of $37.13 before closing at $32 on volume of 5.1 million shares.

It priced 5.5 million shares at the top of its $14 to $16 price range.

The company raised $88 million with lead underwriter SG Cowen.

It develops and makes technology to study the structure of proteins.

The company upped the size of the deal by 500,000 shares in a sign of strength.

Simple Technology

Simple Technology
STEC, +0.00%
opened at $11.06, close to its $11 price, but closed down 20 percent at $9.68 on volume of 9.4 million shares.

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